SPDR Homebuilders falls after disappointing housing data, levels to watch

theflyonthewall.com

The etf has been one of the best performer this year, up over 53% year-to-date. This morning's data however has put a crimp in the etf's progress, and it is now down over 1.7% on the day. At the current price of $25.78, next support is at the 10-day moving average at $25.58. In the event of a breakdown below the 10-day, next support would be at $25.06, a prior pivot low. Resistance is at $26.13.

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